For healthcare stock Apyx Medical (NASDAQ:APYX), rolling out a new device might have been one of the best things it’s done in the last few months. And thanks to that new device, investors are reacting with great joy, as they sent shares higher in Friday afternoon’s trading.
So what is this new device that’s giving Apyx shares a healthy boost? It’s called the Renuvion APR Handpiece, and it’s designed for use with aesthetic body contouring. Body contouring, for those not familiar, is a means to reshape portions of the body. Carrying out body contouring can involve a range of tools and procedures, from applications of cold and heat to surgical measures like tucks and even liposuction. Sometimes, lasers are involved.
But the Renuvion handpiece is used to help soft tissue recovery after liposuction. It is also, according to Apyx CEO and president Charlie Goodwin, the only such device that boasts a 510(k) clearance for use after liposuction. That should also pave the way for the completion of the various other FDA Safety Communication’s limiting factors and get a major new market in play for the company.
The news comes at a good time for Apyx, too. A look at the last five trading days for APYX stock shows that it was already on an upward trend. Today’s substantial upsurge gave it a boost, certainly, but it really only accomplishes what time likely would have over a slightly longer term. That assumes the trend line from the last five days held true going forward.
